BUSINESS NEWS


Scott Davies, chief executive of the Institute of Travel Management


Cost and purpose of trips has become ‘top priority’


Airfares and climate worries will cut corporate travel in 2023. Ian Taylor reports They also warned: “There is a


Corporate travel will not return to its pre-pandemic level, with pressures on cost and on companies to decarbonise leading large firms to question the purpose of trips. That is according to senior


corporate travel managers speaking at an Institute of Travel Management (ITM) Trending Summit in London last week. The corporate travel head of a


global business consultancy insisted: “Financials have become the top priority. Client-facing travel will


56 15 DECEMBER 2022


happen so long as it generates revenue, which is 60%-70% of travel volume. But the remaining international travel has to have a purpose.” The global travel operations


manager at a multinational IT and analytics group agreed, saying: “Budgets are being capped at 70% for international meetings. We’ve seen increases in airfares so that will have an impact. “Managers are looking at


how many people are going on trips and taking the numbers down.”


risk of budgets running out and trips being cancelled.” The head of corporate travel and


meetings at a multinational retailer said: “Travel is not at the pre-Covid level. People’s behaviour is changing. We push on the reason for travel now. Trips have to be ‘purposeful’.” The global head of travel at a


major bank argued: “Non-revenue- Continued on page 54 travelweekly.co.uk


BUSINESSNEWS


PICTURE: Alastair Robb


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